StockNews.com Upgrades Brookfield Renewable Partners (NYSE:BEP) to Hold

StockNews.com upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a sell rating to a hold rating in a report issued on Wednesday.

BEP has been the subject of several other research reports. CIBC upped their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research note on Thursday, December 12th. Finally, UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $31.78.

Brookfield Renewable Partners Trading Down 3.7 %

Shares of Brookfield Renewable Partners stock opened at $22.64 on Wednesday. The firm has a 50-day simple moving average of $25.75 and a two-hundred day simple moving average of $25.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a market cap of $6.45 billion, a P/E ratio of -27.61 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter last year, the firm earned ($0.14) earnings per share. As a group, equities analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.27%. Brookfield Renewable Partners’s payout ratio is -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several large investors have recently modified their holdings of BEP. GAMMA Investing LLC boosted its position in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners during the third quarter worth $28,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $178,000. Barclays PLC boosted its stake in shares of Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 2,036 shares during the period. Finally, Creative Planning purchased a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.